IonQ, Inc. $IONQ Shares Purchased by Swedbank AB

Swedbank AB raised its position in shares of IonQ, Inc. (NYSE:IONQ) by 147.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,503 shares of the company’s stock after acquiring an additional 89,148 shares during the period. Swedbank AB’s holdings in IonQ were worth $4,310,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Beaird Harris Wealth Management LLC lifted its stake in shares of IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after purchasing an additional 270 shares in the last quarter. Accent Capital Management LLC increased its position in IonQ by 171.8% during the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Kelleher Financial Advisors purchased a new position in IonQ in the third quarter valued at approximately $36,000. Fortitude Family Office LLC raised its holdings in IonQ by 3,800.0% in the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after buying an additional 608 shares during the period. Finally, Banque Transatlantique SA purchased a new position in IonQ in the third quarter valued at approximately $43,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Price Performance

IonQ stock traded down $1.87 during midday trading on Friday, hitting $42.90. 14,467,963 shares of the company were exchanged, compared to its average volume of 20,523,214. The company has a market cap of $16.01 billion, a PE ratio of -153.21 and a beta of 3.23. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64. The company’s fifty day moving average price is $55.81 and its 200-day moving average price is $45.00.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The firm had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The firm’s revenue was up 754.7% compared to the same quarter last year. During the same period last year, the business earned ($0.14) EPS. On average, analysts expect that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Insider Activity

In related news, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $151,662.57. Following the completion of the sale, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert T. Cardillo sold 3,773 shares of IonQ stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the sale, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,102 shares of company stock valued at $701,489 over the last ninety days. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group set a $85.00 price objective on shares of IonQ in a research note on Thursday, May 7th. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of IonQ in a research note on Monday, May 4th. Northland Securities lifted their target price on shares of IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Morgan Stanley set a $48.50 price target on shares of IonQ in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.88.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.